Oil & Gas
By Anthony Isibor
GABRIEL Aduda, permanent secretary, Ministry of Petroleum Resources, has insisted that Africa must forget about the promises from Western countries and look inward if it must achieve its energy transition goals.
Speaking on plans and priorities for Nigeria’s Energy Mix at the ongoing Nigeria Oil and Gas Conference in Abuja on Tuesday, Aduda stated that Western countries have failed to show any commitment to the various agreements to fund clean energy transition in Africa.
He said that if the world was really serious about energy transition in Africa, then it would be ready to fund the process.
Aduda condemned the practice where European countries with a debt to GDP ratio of up to 200% can access loans from the international financial institutions at 1 to 2% and Africa, where debt to GDP is about 50 and 80% is made to draw at 9% because they are seen as high risk countries.
He said that if gas is Africa’s transition fuel, then it should receive every encouragement to be able to move with that.
He recalled that in 2021, 600 billion worth of green bond was set out and only 0.26% came to Africa.
“And yet when you talk about pushing the agenda, you want Africa to go in the same pace with everyone.
“This is not possible. How about funding and access to funds?
He also noted that more people are beginning to realize that perhaps, setting deadlines for this climate change agenda is a hasty decision.
“Zero emission by 2050, we went to COP-26 and signed all manner of agreements and what have you.
“All manner of commitment were made by the Western countries or the very developed countries and how they will help the developing countries to meet up with this agenda.
“But then we shall ask ourselves how much of this promises have seen the light of day.
“Of all the promises in millions and trillions of dollars, how much have we seen” he asked.
Aduda called on Western countries to start showing their seriousness to the transition to renewable energy goals by making sure that the industries must come to Africa.
“The only way we can have power here is to build the industries here,” he said.
Although the Permanent Secretary agreed that funding, technology acquisition and transfer are important to attaining a sustainable energy future, he said that cooperation was key.
It can no longer be a master servant relationship,” he said.
“Those who want to use what you have and you that have it must sit down and discuss.
“Africa needs to determine its own terms and even Nigeria as a country needs to come to the table on its own terms.
“We are blessed with resources, but we need to guide this resources jealously and use the same resources to help you participate at the global stage.
“Cooperation is a must, no man can do it alone,” he added.
A.
– July 11, 2023 @ 20:00 GMT |
Tags: Anthony Isibor Gabriel Aduda NOGEnergyWeek
